Unpacking the Latest Options Trading Trends in Accenture

Author: Benzinga Insights | July 15, 2024 04:31pm

Whales with a lot of money to spend have taken a noticeably bearish stance on Accenture.

Looking at options history for Accenture (NYSE:ACN) we detected 8 trades.

If we consider the specifics of each trade, it is accurate to state that 12% of the investors opened trades with bullish expectations and 87% with bearish.

From the overall spotted trades, 5 are puts, for a total amount of $431,155 and 3, calls, for a total amount of $244,480.

Projected Price Targets

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $240.0 and $325.0 for Accenture, spanning the last three months.

Insights into Volume & Open Interest

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Accenture's options for a given strike price.

Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Accenture's whale activity within a strike price range from $240.0 to $325.0 in the last 30 days.

Accenture 30-Day Option Volume & Interest Snapshot

Largest Options Trades Observed:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
ACN	CALL	SWEEP	BEARISH	08/16/24	$9.7	$9.6	$9.6	$315.00	$187.2K	665	17
ACN	PUT	SWEEP	BEARISH	09/20/24	$8.2	$8.1	$8.2	$315.00	$157.4K	141	32
ACN	PUT	TRADE	BEARISH	09/20/24	$12.8	$12.6	$12.8	$325.00	$79.3K	143	9
ACN	PUT	TRADE	BULLISH	09/20/24	$12.6	$12.4	$12.4	$320.00	$76.8K	363	1
ACN	PUT	SWEEP	BEARISH	07/26/24	$8.1	$8.0	$8.0	$325.00	$70.4K	0	0

About Accenture

Accenture is a leading global IT-services firm that provides consulting, strategy, and technology and operational services. These services run the gamut from aiding enterprises with digital transformation to procurement services to software system integration. The company provides its IT offerings to a variety of sectors, including communications, media and technology, financial services, health and public services, consumer products, and resources. Accenture employs just under 500,000 people throughout 200 cities in 51 countries.

After a thorough review of the options trading surrounding Accenture, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Current Position of Accenture

• Currently trading with a volume of 3,863,005, the ACN's price is up by 2.33%, now at $317.87.
• RSI readings suggest the stock is currently may be overbought.
• Anticipated earnings release is in 73 days.

What Analysts Are Saying About Accenture

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $354.0.

• Consistent in their evaluation, an analyst from Barclays keeps a Overweight rating on Accenture with a target price of $350.
• An analyst from Susquehanna persists with their Neutral rating on Accenture, maintaining a target price of $350.
• An analyst from Citigroup persists with their Buy rating on Accenture, maintaining a target price of $350.
• Maintaining their stance, an analyst from Morgan Stanley continues to hold a Overweight rating for Accenture, targeting a price of $400.
• Consistent in their evaluation, an analyst from Piper Sandler keeps a Neutral rating on Accenture with a target price of $320.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Accenture options trades with real-time alerts from Benzinga Pro.

Posted In: ACN